Reverse Mortgage vs. Home Equity Loan
Curious what the advantage of a Reverse Mortgage is vs. a Home Equity Loan?
Reverse Mortgages do not require credit or income qualifications and thus, tend to be easier to obtain than Home Equity Loans.
Another way a Reverse Mortgage differs from a Home Equity Loan is that it offers more flexibility in payout options. You can get the money in a lump-sum payment, a monthly check for life, a line of credit, or a combination of these options. You choose the option that best fits your needs.
And best of all, there is no monthly payment required!
“I inquired about a Reverse Mortgage when things got a little difficult financially. Kathy Rutkowski’s kindness and advice built my confidence I was doing the right thing. Having a Reverse Mortgage has given me real peace of mind. I no longer have to worry about whether or not I will be able to pay my bills since my Reverse Mortgage line of credit is there for me.” – Dorothy R., Palos Hills, IL
If you are 62 or older and would like more information on reverse mortgages and how you can apply, contact a reverse mortgage professional today at 866.499.2265 or click here.